Thousands of pounds could be invested in Galashiels over the next five years under the new Business Improvement District (BID) agreed in a vote declared on 21 November 2024.
The successful Galashiels BID announcement means businesses in Galashiels have voted to boost the town’s economy by paying an additional levy on top of their normal business rates which will go towards improvement projects.
The additional income raised will be invested into the local area in line with priorities outlined in an agreed business plan. The levy could provide almost £170,000 each year to help deliver specific projects.
Four key themes have been identified in the BID – developing events and attractions for Galashiels; business support; creating a welcoming environment; and positioning the town as a visitor destination.
A BID is an initiative promoted by the Scottish Government to help support sustainable economic growth, normally within part of a town, a commercial district or a specific tourist related area. BIDs can be a way of generating additional revenue to help local businesses invest in their local areas.
To see the results of the Galashiels ballot and for more information about BIDs visit Business Improvement Districts or bidforgalashiels.com